Alkermes positioned for ‘considerable value creation,’ says Piper Sandler

Piper Sandler analyst David Amsellem reiterates an Overweight rating on Alkermes with a $30 price target after hosting a group meeting with senior management and investors. Commentary Alkermes reinforced the view that the company is fully committed to the creation of a pure-play, profitable neuropsychiatry-focused company, even amid uncertainty regarding how the separation of the oncology segment will play out, Amsellem tells investors in a research note. The analyst says management also confirmed longer-term margins for the neuropsychiatry business will be better than its previously stated aspirational targets for the combined neuropsychiatry/oncology entity. Amsellem continues to believe Alkermes is positioned for "considerable value creation as a stand-alone neuropsychiatry business."